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American Wagering quarterly revenues up, but loss widens

Monday, April 24, 2000 | 12:03 p.m.

American Wagering Inc. recorded a 29 percent increase in revenues for the quarter ending Jan. 31, but its loss more than doubled over the year-ago period.

The Las Vegas company reported its annual earnings last week, and did not break out earnings for the fourth quarter. However, a comparison with earlier financial reports indicates the company had revenues of $4.23 million for the quarter, up 28.6 percent from the year-ago period.

The company's net loss for the quarter, based on comparison with earlier reports, was $373,000, compared to a loss of $130,000 in the year-ago period.

For the year, American Wagering reported a net loss of $815,000, or 13 cents per share.

The loss was a 48 percent reduction over the loss of $1.57 million, or 21 cents per share, reported for the previous fiscal year. American Wagering said the loss was primarily related to the launch of its keno operations "and continuing research and development for future product developments."

Revenues at the company rose 35.3 percent for the year, to $13.4 million.

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